Phorcys Capital Partners (PCP) is an alternative investment management firm that invests in underperforming micro-issue municipal bonds and revenue bonds. PCP provides investment management services to affiliated private investment funds offered to accredited and qualified investors. PCP does not tailor advisory services to individual needs. PCP may also offer co-investment opportunities to investors in the Funds or other third parties.
Fee Structure
Phorcys Capital Partners manages investments for affiliated private funds. Investors in the Phorcys Opportunities Fund I LLC pay a quarterly management fee in advance equal to 0.375% of the aggregate capital account balances at the beginning of each calendar quarter. The manager will receive an incentive allocation of 20% of the net realized and unrealized profits attributable to each investor during the calendar year, subject to a high water mark.
Investors in the Phorcys Senior Housing Recovery Fund LP pay a quarterly management fee in advance to PCP, during the Investment Period, of 0.5% of Capital Commitments (2.0% annually) and, following the Investment Period, of 0.375% (1.5% annually) of Aggregate Drawn Capital Commitments. Investors whose aggregate Capital Commitments in the Fund exceed $5 million will be entitled to a 0.5% reduction in the Management Fee per year (which will not be cumulative and reset annually) until aggregate commitments in the Fund exceed $25 million. At that point, Investors will cease to be entitled to such a reduction in the Management Fee.